David Green, the founder and CEO of Hobby Lobby has revealed his intention to transfer ownership of his company to a trust. Prior to Green, Patagonia founder Yvon Chouinard gave ownership of the company to a nonprofit environmental organization. Green noted in a Fox News opinion post that he went through a similar decision-making process with his property in the Hobby Lobby and chose God. He further noted that transfer of ownership to his children and grandchildren is unfair to him and has the ability to influence or harm the fate of his grandchildren.
On Fox & Friends on Oct. 23, Green claimed that all of the voting stock of Hobby Lobby had been moved into a trust where stewardship can be transferred from one person to another and wealth can be a burden. He even urged the other leaders to find the source of the truth, claiming that his sources of knowledge were prayer and the Bible. Meanwhile, David has made no mention of how or when the company would be transferred to the trust.
David Green, Owner of Hobby Lobby – inspired by Patagonia and giving the company to environmental trusts… giving Hobby Lobby away to religious fanatics.
— Halley Weaver (@bikeleptic) October 25, 2022
MY DECISION TO GIVE AWAY THE PROPERTY OF HOBBY LOBBY
I CHOOSE GOD – CEO David Green WEALTH CAN BE A CURSE
For the love of money is the root of all evil – 1 TIMOTHY 6:10
I have suffered the loss of all things
& consider them waste so that I may gain Christ
PHILIPPIANS 3:8— Ricky Caballero (@RickyCa09039186) October 23, 2022
David Green’s net worth
David Green is known as the creator of the Hobby Lobby retail chain. He is also known for his financial support of evangelical groups in the United States. CelebrityNetWorth estimates its 80-year net worth at approximately $5.2 billion. While precise information about Green’s assets is not available, he has made a lot of money over the years as a successful businessman.
Green borrowed $600 and began collecting and selling small picture frames in his garage with Larry Pico in 1970. Lobby shop in northwest Oklahoma City. In 1975, David Green launched another Hobby Lobby with 6,000 square feet of space. He wrote a book called Giving It All Away… And Got It All Back with Bill High in 2017. David claims he started his business on biblical ideas.
Green also supports evangelical causes in the United States and distributes half of Hobby Lobby’s pre-tax revenues to a portfolio of Christian nonprofit organizations. Since 2012, he has given approximately $500 million and contributed $500 million to the Museum of the Bible in Washington, DC
His oldest son, Mart Green, is the founder and CEO of Mardel Christian & Education and Every Tribe Entertainment. His second son, Steve, is the president of Hobby Lobby, as well as the creator and funder of the Museum of the Bible and a supporter of the Green Collection, while Green’s daughter, Darsee Lett, is the Creative Director of the Hobby Lobby stores.
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